secwatch.observer — SEC 8-K summary
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Issuer:     Western New England Bancorp, Inc. (WNEB)
CIK:        0001157647
Form:       8-K
Filed at:   2021-08-06T23:59:59+00:00
Accession:  0001387131-21-008222
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WNEB Q2 net income $5.65M ($0.24 EPS); NIM 3.06%; core deposits up 19%
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- Net income of $5.65M, diluted EPS $0.24; net interest income $17.8M, up 18% YoY; NIM 3.06% on a tax-equivalent basis.
- Credit provision of negative $1.2M (benefit); non-performing loans fell to $6.0M (0.34% of total loans).
- Completed $20M subordinated debt offering; prepaid $32.5M in FHLB borrowings with 2.03% avg rate, minimal loss.
- Core deposits grew to $1.73B (+19.3% from YE 2020); loan-to-deposit ratio improved to 86%.
- CARES Act modifications reduced to $57M (3.2% of loans); Connecticut expansion with new branches in West Hartford, Bloomfield, Granby.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1157647/000138713121008222/0001387131-21-008222-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1157647/000138713121008222/wneb-8k_080621.htm
  HTML page:      https://secwatch.observer/filing/0001387131-21-008222

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